Mumbai: The Reserve Bank of India (
) has revealed that it has received 76% of the Rs 2,000 banknotes that were in circulation when it announced its withdrawal. The central bank is now urging the public to exchange the remaining notes within the next three months.
According to the RBI, as on May 19, the total value of Rs 2,000 banknotes in circulation had decreased to Rs 3.56 lakh crore from Rs 3.62 lakh crore as on March 31.
Based on data provided by banks, it has been reported that Rs 2.72 lakh crore worth of Rs 2,000 banknotes have been returned between the announcement on May 19 and till June 30. Of this, Rs 2.36 lakh crore were deposited with banks, and the rest were exchanged across the counter.
As a result, the total value of Rs 2,000 banknotes in circulation as of June 30 stood at Rs 84,000 crore. This indicates that 76% of the Rs 2,000 banknotes that were in circulation as of May 19 have now been returned. The RBI announced the withdrawal of Rs 2,000 notes as part of its ‘clean note policy’.